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NBN Book of the Day

A Deep Dive on Karl Marx's "Capital"

Oct 7, 2024
In this discussion, Paul Reitter, a Professor of Germanic languages at Ohio State University, and Paul North, the Maurice Natanson Professor at Yale, dive into the complexities of translating Marx's 'Capital' for modern audiences. They uncover the challenges of capturing Marx’s nuanced arguments on capitalism, including the distinction between use value and exchange value. The duo also explores Marx’s literary influences and the lasting impact of his critique, emphasizing the need for fresh translations to engage today's readers with his revolutionary ideas.
02:41:07

Podcast summary created with Snipd AI

Quick takeaways

  • Marx emphasizes that the concept of value in capitalism arises from the transformation of concrete labor into abstract labor, highlighting its complex nature in economic systems.
  • He critiques the static view of money, arguing that its value emerges from fluid social relations established through the exchange process, thus emphasizing its dynamic role in the economy.

Deep dives

The Challenge of Value Representation

Marx discusses the concept of value in relation to commodities, presenting the idea that the physical body of a commodity serves as a manifestation of abstract human labor. This transformation of concrete labor into abstract labor highlights the complexity of how value operates in a capitalist system. The juxtaposition of the terms 'ghostly objecthood' and 'gelatinous blob' emphasizes the non-physical nature of value, suggesting that while it is a product of human labor, it exists independently of its physical form. This imagery aims to capture the paradox of how commodities, although products of labor, become commodities with an identity that transcends their utility.

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